June 22, 2022 10:00 ET | Source: FACT.MR FACT.MR

United States, Rockville, MD, June 22, 2022 (GLOBE NEWSWIRE) -- In 2022, the global squalene market stands at a value of US$ 21.12 billion and is predicted to bring in revenue of US$ 66.36 billion by the end of 2032. Worldwide squalene consumption is estimated to rise at an impressive CAGR of 12.2% across the forecast period (2022-2032). These findings are from a new market survey by analysts at Fact.MR, a market research and competitive intelligence provider.

Heightened focus on personal care across the world has significantly increased the demand for squalene. The cosmetics industry is expected to lead the consumption of squalene over the coming years. Rising use of squalene in the pharmaceutical industry is also expected to provide new opportunities for squalene providers going forward. However, bans on shark fishing and high costs associated with the production of squalene from plants are expected to have a restraining effect on market expansion.

“Increasing demand for cosmetics and personal care products will spearhead the sales of squalene over the coming years,” says a Fact.MR analyst

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The squalene market is consolidated and a few major players such as Amyris and Sophim account for major revenue shares, along with other players in the industry. Squalene vendors are expected to deploy various innovative strategies to meet the high demand from several industry verticals.

Key Takeaways from Market Study

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Squalene manufacturers are increasing their investments in research and development activities to advance their product offerings and increase overall revenue generation capacity.

Squalene manufacturers are focusing on the development of new techniques that will allow extraction of high-purity squalene through plant and vegetable sources.

Key squalene manufacturers are majorly focusing on research and development of new methods to create squalene from plant-based sources as shark squalene is declining in availability. Squalene companies are deploying innovative strategies to expand their business potential and strengthen their market stance on a global level.

In October 2020, Amyris, a leading squalene supplier in the world, announced its plans to supply non-shark squalene samples to pharmaceutical companies so that they could use them to manufacture alternative squalene for adjuvants used in the formulation of vaccines.

Key Segments Covered in Squalene Industry Research

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global squalene market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of type (animal-sourced, vegetable-sourced) and end-use industry (cosmetics, pharmaceuticals, supplements, other end-use industries), across five major regions of the world (North America, Latin America, Europe, APAC, and MEA).

About the Chemicals and Materials Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

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